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Question 3 - The price of Caribbean cruise vacations increases while the number of bookings decreases. a) Is this due to a change in Supply
Question 3 - The price of Caribbean cruise vacations increases while the number of bookings decreases. a) Is this due to a change in Supply or Demand? Answer by shifting the correct line below in the diagram and then showing the corresponding changes in Price and Sales. b) Finally, provide a creative scenario to explain why this change took place. (Please don't simply state which curve shifted which way - that's uncreative.)
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